Financing Local Businesses and Cincinnati's Future

By J K Klaiber

Photo provided by MainSource Bank

Being around for over 100 years, it’s safe to say that MainSource Bank knows a few things about what it takes to make a successful business and keep it successful. Senior Vice President David B. Cardell sat down with LEAD to share his experiences of working in Cincinnati and his advice on how to keep the city’s future bright.

LEAD Magazine: What do you appreciate most about Cincinnati?

David B. Cardell:I have enjoyed being in the Greater Cincinnati business community for over 30 years. In my field of commercial banking, I appreciate our clients’ successful companies in various industries. This success and diversity makes our work lives more enjoyable as we learn about different companies, how they operate and what creates their success.

LEAD Magazine: How have you seen Cincinnati develop since the year 2000?

David B. Cardell:I’ve seen development come in a variety of levels such as the increase in the types of residential housing projects. The commercial real estate markets have grown from what was predominately heavy industrial facilities to now specialty retail, high-end hospitality and technology firms.

LEAD Magazine: How important are your clients in the shaping of Cincinnati’s future?

David B. Cardell:I believe that our local business clients are everything in ensuring the success of Cincinnati and Northern Kentucky. They are the area’s primary employers and, without the ability to have consistent, quality employment, the region would suffer.

LEAD Magazine: How can we ensure that Cincinnati continues to develop and grow stronger?

David B. Cardell:It’s important for the banking industry to continue to support the growth in Greater Cincinnati. Too often, especially with the larger banks, the ability to access capital seems to come and go depending on the home office’s direction. The inconsistency makes it difficult for entrepreneurs to know what they can and cannot do as well as having confidence in growing their business.

I also think it’s incumbent for influential companies, bankers and entrepreneurs to utilize local companies when feasible. We have so many great companies here that we should all be doing business together.

LEAD Magazine: What advice would you give to anyone thinking of starting a business in Cincinnati?

David B. Cardell:Be well capitalized and surround yourself with a good support team. All too often entrepreneurs have great ideas but not enough capital, or access to capital, to achieve their goals. And when they run out, they’re typically past the point where it would be advantageous to find new capital.

I strongly recommend to start working with a quality bank, accounting firm, legal firm and insurance company that has experience with startups.

LEAD Magazine: What attracted you to MainSource?

David B. Cardell: I really enjoy community banking and the ability to translate the ‘right to win’ philosophies and principals into mutually beneficial banking relationships and helping entrepreneurs.

This ‘right to win’ business delivers on creative, consistent, flexible and responsive banking packages that create a mutually beneficial banking relationship. MainSource also has the technical expertise to guide clients and prospects through potential issues and help with financial decisions they face.